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Office Depot Mastercard Promotion
Earlier this morning Danny posted about Office Depot’s unadvertised in-store gift card deal. (You can find the sign and full terms in that post.) On the surface this looks like a good deal, but the truth is that it is the best deal we have seen in awhile. Let’s take a look.
Save $10 instantly when you buy $50 or more in these select gift cards (limit 2):
- Toys ‘R’ Us
- American Eagle Outfitters
It’s All About the Options
Most of those gift cards are not worth getting excited about, but then there are those first two options. Soooooo good. First off, the best way to maximize any deal at an office supply store is to use a Chase Ink Cash/Plus card or an Amex SimplyCash Plus card. These earn 5X/5% back.
The first and perhaps most lucrative option is to purchase a single $100 Mastercard gift card for $105.95. Laptop Travel has confirmed that the purchase of a single card WILL TRIGGER a $20 discount. This means you will make $14.05 for each $100 Mastercard purchased. If you use a Chase Ink Plus/Cash card to pay, you will also earn 430 points! Not bad.
You can also purchase a $200 gift card for $206.95. Basically you pay $1 more in fees, however you will earn an additional 500 points which more than offset that. If you have an unlimited ability to liquidate cards then this is probably better, but either option is great.
Toys ‘R Us Option
Not everyone wants to deal with Mastercard gift cards. I get it. Thankfully there is another option. You could instead purchase a $100 Toys ‘R Us gift card for $80! This will earn you 400 points plus you can sell these cards for 80-85% of face value depending on your bulk relationships. Not as lucrative as the Mastercard option, but still profitable.
The Hybrid Super Option
As Laptop Travel points out, one final option is to combine the first two.
- Purchase a $100 Mastercard gift card
- Use that Mastercard to pay for a $120 Toys ‘R Us gift card which will cost $100 after the instant $20 discount.
Note: You could also buy another Mastercard with the first Mastercard, but this can get messy since you will need to split payment. Additionally most cashiers will not let you use a gift card to purchase a Mastercard gift card.
This option can make you a bit more money, but it also has the very nice side effect of liquidating the Mastercard. If you have a friendly cashier who is willing to do multiple transactions, this is a great option. Here is how the math would work out if you could do this and sell the Toys ‘R Us cards for 85%.
- Buy Mastercard: $14.05 profit + 430 points
- Buy Toys ‘R Us with Mastercard & sell @85%: $2 profit ($120*.85-100)
In the end you solve your liquidation problem and profit $16.05 + points. Not bad.
Which Option to Choose
Personally I would probably just choose to purchase as many $100 Mastercard gift cards as possible and find a different way to liquidate them. While the combined option is nice, it requires multiple transactions and relies on the cashier not questioning your use of a gift card. Additionally, I would rather use those extra transactions to purchase more Mastercards since I am making $14.05 + points each time.
Given the ability to scale this over multiple transactions/stores if allowed, this is a fantastic deal and one of the better ones we have seen this year. I suspect many of you will be generating a lot of profit and points over the next couple of weeks!
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